Simon Fraser University
Engaging the World

Course Outlines

Spring 2026 - RISK 411 D100

Advanced Long-Term Actuarial Mathematics (3)

Class Number: 4549

Delivery Method: In Person

Overview

  • Course Times + Location:

    Jan 5 – Apr 10, 2026: Mon, 2:30–4:20 p.m.
    Burnaby

    Jan 5 – Apr 10, 2026: Wed, 2:30–3:20 p.m.
    Burnaby

  • Prerequisites:

    RISK 311 (or ACMA 301 or 320), with a minimum grade of C.

Description

CALENDAR DESCRIPTION:

Advanced survival models. Multiple state models. Advanced premium calculations and policy values. Profit testing. Pension plans and retirement benefits. Computer applications for pricing, reserving and risk measurement of life insurance portfolios. Students with credit for ACMA 401 or ACMA 425 may not take this course for further credit. Quantitative.

COURSE DETAILS:

The topics covered correspond to part of Exam ALTAM of the Society of Actuaries and they include:

  • Life insurance for fractional age and (1/m)-thly interval: Mortality assumptions at fractional ages, premiums, reserves.
  • Multiple state models: Continuous time stochastic process, transition probabilities, premiums, reserves, multiple decrement models, joint-life and last-survivor benefits.
  • Pension mathematics: Salary scale function, pension plan service table, defined.
  • Emerging costs for traditional life insurance: Profit measures, profit testing.

This course is part of the University Accreditation Program and meets specific requirements set by the Canadian Institute of Actuaries (CIA). Please consult the CIA website for full details on CIA accreditation.

Grading

  • Assignment 15%
  • Midterm 40%
  • Final Exam 45%

NOTES:

Above grading is subject to change.

Materials

REQUIRED READING:

Actuarial Mathematics for Life Contingent Risks, 3rd Ed., 2020 by Dickson, C.M.D., Hardy, M.R., and Waters, H.R., Cambridge University Press, Cambridge.


REQUIRED READING NOTES:

Your personalized Course Material list, including digital and physical textbooks, are available through the SFU Bookstore website by simply entering your Computing ID at: shop.sfu.ca/course-materials/my-personalized-course-materials.

Registrar Notes:

ACADEMIC INTEGRITY: YOUR WORK, YOUR SUCCESS

At SFU, you are expected to act honestly and responsibly in all your academic work. Cheating, plagiarism, or any other form of academic dishonesty harms your own learning, undermines the efforts of your classmates who pursue their studies honestly, and goes against the core values of the university.

To learn more about the academic disciplinary process and relevant academic supports, visit: 


RELIGIOUS ACCOMMODATION

Students with a faith background who may need accommodations during the term are encouraged to assess their needs as soon as possible and review the Multifaith religious accommodations website. The page outlines ways they begin working toward an accommodation and ensure solutions can be reached in a timely fashion.